The Greek Minister of Labor, Niki Kerameus, announced that a new mechanism for adjusting the minimum wage will be presented in Thursday’s cabinet meeting. As part of a structured roadmap, this policy aims to raise the minimum wage to €950 by 2027, marking a 46% increase from the €650 rate of 2019.

Kerameus highlighted that future wage adjustments will rely on two primary economic indicators: inflation and productivity. The minimum wage will be adjusted in line with inflation rates, particularly to assist the lowest 20% income bracket. Additionally, economic productivity will play a key role, meaning the wage will rise with improved national productivity.

Kerameus outlined key features of the system, including a statutory guarantee that the minimum wage cannot be reduced, ensuring wage security. Adjustments will be data-driven, relying on statistics from the Hellenic Statistical Authority (ELSTAT), and will impact public sector wages, ensuring increased earnings for some public employees.